Quantum (NASDAQ:QMCO) Shares Down 6.8% – Here’s What Happened

Quantum Corporation (NASDAQ:QMCO)’s stock price traded down 6.8% during trading on Wednesday . The stock traded as low as $7.38 and last traded at $7.45. 524,785 shares were traded during trading, an increase of 1% from the average session volume of 521,331 shares. The stock had previously closed at $7.99.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on QMCO shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum in a research note on Monday, December 29th. Northland Securities upgraded Quantum from a “market perform” rating to an “outperform” rating and set a $13.00 price objective for the company in a report on Friday, November 14th. Finally, Northland Capmk raised Quantum from a “hold” rating to a “strong-buy” rating in a report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Quantum has a consensus rating of “Moderate Buy” and an average target price of $17.67.

Quantum Stock Down 6.8%

The firm has a market cap of $102.21 million, a P/E ratio of -2.45 and a beta of 2.62. The business’s 50 day moving average is $7.83 and its two-hundred day moving average is $8.63.

Quantum (NASDAQ:QMCO) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.29). The business had revenue of $62.72 million for the quarter, compared to analyst estimates of $65.88 million. Quantum has set its Q3 2026 guidance at -0.610–0.410 EPS. Equities research analysts anticipate that Quantum Corporation will post -5.5 EPS for the current year.

Institutional Investors Weigh In On Quantum

A number of hedge funds have recently added to or reduced their stakes in the business. Apollon Wealth Management LLC bought a new position in shares of Quantum during the 2nd quarter worth approximately $107,000. SBI Securities Co. Ltd. lifted its position in shares of Quantum by 99.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 5,636 shares of the company’s stock valued at $56,000 after acquiring an additional 2,809 shares during the period. Geode Capital Management LLC boosted its stake in Quantum by 9.1% during the second quarter. Geode Capital Management LLC now owns 69,384 shares of the company’s stock worth $692,000 after acquiring an additional 5,806 shares in the last quarter. Marshall Wace LLP bought a new position in Quantum during the second quarter worth $1,775,000. Finally, Sassicaia Capital Advisers LLC acquired a new stake in Quantum in the second quarter worth $232,000. 63.66% of the stock is currently owned by institutional investors.

Quantum Company Profile

Quantum Corporation (NASDAQ: QMCO) is a technology company that develops and delivers data management and storage solutions for businesses and organizations worldwide. The company’s product portfolio includes hardware, software and cloud-based offerings designed to address backup, archive, primary storage and long-term retention needs. Quantum’s solutions are geared toward data-intensive environments such as media and entertainment, surveillance, government, education and healthcare, where large volumes of digital content must be reliably stored, managed and accessed.

Quantum’s flagship products include the StorNext® data management platform, which provides high-performance shared file storage and workflow acceleration, and the DXi® series of deduplication appliances, which optimize backup and recovery by reducing storage footprints and data transfer times.